Apple Inc
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Information Technology : Technology Hardware, Storage & Peripherals | Large Cap Blend
Company profile

Apple Inc. designs, manufactures and markets mobile communication and media devices, personal computers and portable digital music players. The Company sells a range of related software, services, accessories, networking solutions, and third-party digital content and applications. The Company's segments include the Americas, Europe, Greater China, Japan and Rest of Asia Pacific. The Americas segment includes both North and South America. The Europe segment includes European countries, India, the Middle East and Africa. The Greater China segment includes China, Hong Kong and Taiwan. The Rest of Asia Pacific segment includes Australia and the Asian countries not included in the Company's other operating segments. Its products and services include iPhone, iPad, Mac, iPod, Apple Watch, Apple TV, a portfolio of consumer and professional software applications, iPhone OS (iOS), OS X and watchOS operating systems, iCloud, Apple Pay and a range of accessory, service and support offerings.

Price
Delayed
$118.95
Day's Change
-0.075 (-0.06%)
Bid
--
Ask
--
B/A Size
--
Day's High
120.42
Day's Low
118.17
Volume
(Below Average)

Today's volume of 47,695,219 shares is on pace to be lower than AAPL's 10-day average volume of 143,014,761 shares.

47,695,219

Hertz's stock soars after Jefferies says CarMax, AutoNation may 'swoop in'

9:49 am ET June 24, 2020 (MarketWatch)
Print

Shares of Hertz Global Holdings Inc. (HTZ) shot up 20% in active trading Wednesday, putting them on track to snap a 4-day losing streak in which they plunged 38%, after Jefferies analyst Hamzah Mazari said his checks suggest that CarMax Inc. (KMX) and AutoNation Inc. (AN) could be interested in the bankrupt car rental company. Trading volume was 18.8 million shares, making the stock the most actively traded on the NYSE. Meanwhile, CarMax's stock gained 0.3% while AutoNation shares fell 2.3%. Mazari said the most obvious way for auto dealers CarMax and AutoNation to "swoop in" would be to bid for 150,000 of Hertz's used cars, which are likely to be sold to pay off lenders, but also as Hertz looks to reduce its fleet given current demand and need to shore up cash. He believes a sale of 150,000 used cars could raise $3 billion. Separately, Mazari said he believes the $1 billion in liquidity Hertz had as of March 31 will have dwindled to about $365 million by June 30, which means the company needs debtor-in-possession financing of at least $900 million. "We think the longer [Hertz] takes to re-emerge from bankruptcy with a cleaner capital structure, the more opportunity there is for rivals to pick up share," Mazari wrote in a note to clients. Rival Avis Budget Group Inc.'s stock (CAR) fell 4.5% in morning trading.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

June 24, 2020 09:49 ET (13:49 GMT)

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